Banks Plan Merger: CoreStates Financial Corp. and...
Banks Plan Merger: CoreStates Financial Corp. and First Pennsylvania Corp. agreed to a $730-million merger that rival Meridian Bancorp Inc. said was less than its own bid for First Pennsylvania. The tax-free, $18.75-a-share stock deal also ended an earlier agreement for First Pennsylvania to be acquired next spring by Marine Midland Banks Inc., the New York-based unit of Hongkong & Shanghai Banking Corp. of Hong Kong.
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